The two initiatives under discussion would compete with SeattlePI.com and The Seattle Times.

The Times says neither group of Seattle journalists has settled on a business model. There’s talk of pledges (à la public broadcasting), community ownership and foundation support.

University of Washington communications professor David Domke is one of the academics who has spoken to the journalists:

“Domke and other university faculty have met with a group of former P-I editors and reporters who hope to establish a news organization that would produce investigative, enterprise and narrative journalism focused on the West.

“‘These aren’t the kind of stories you can do in a day or two,’ said Rita Hibbard, a former P-I assistant managing editor and spokeswoman for the group. ‘How do we keep this form alive? The need is still there.’”

The other initiative, called Seattle Post Globe, would be owned by community members like pro football’s Green Bay Packers:

“Seattle Post Globe has raised only about $4,000 so far, insiders say. But former Seattle Weekly managing editor Chuck Taylor, who is advising the venture, said a Web site could go live in the next few weeks, with reporters and editors working for free at first.”